Trek Financial LLC Grows Stock Position in Wolfspeed, Inc. (NYSE:WOLF)

Trek Financial LLC grew its stake in Wolfspeed, Inc. (NYSE:WOLF) by 80.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,000 shares of the company’s stock after buying an additional 8,000 shares during the quarter. Trek Financial LLC’s holdings in Wolfspeed were worth $120,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Wolfspeed by 38.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,207,157 shares of the company’s stock valued at $8,040,000 after buying an additional 335,966 shares during the period. South Dakota Investment Council grew its position in shares of Wolfspeed by 26.4% during the 4th quarter. South Dakota Investment Council now owns 717,482 shares of the company’s stock valued at $4,778,000 after acquiring an additional 149,648 shares during the period. Primecap Management Co. CA increased its stake in shares of Wolfspeed by 2.7% in the 4th quarter. Primecap Management Co. CA now owns 6,519,164 shares of the company’s stock valued at $43,418,000 after purchasing an additional 169,984 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Wolfspeed by 41.4% in the 3rd quarter. Principal Financial Group Inc. now owns 592,599 shares of the company’s stock worth $5,748,000 after purchasing an additional 173,409 shares during the period. Finally, Bryce Point Capital LLC purchased a new position in Wolfspeed during the fourth quarter worth approximately $1,003,000.

Wolfspeed Price Performance

NYSE:WOLF opened at $2.22 on Wednesday. Wolfspeed, Inc. has a one year low of $2.15 and a one year high of $30.86. The stock has a market cap of $282.88 million, a PE ratio of -0.29 and a beta of 1.69. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. The stock has a 50 day moving average price of $5.25 and a 200 day moving average price of $7.80.

Wolfspeed (NYSE:WOLF) last issued its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. Equities research analysts expect that Wolfspeed, Inc. will post -4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on WOLF shares. Canaccord Genuity Group cut their price objective on Wolfspeed from $18.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. The Goldman Sachs Group cut their price target on shares of Wolfspeed from $15.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Bank of America decreased their price objective on shares of Wolfspeed from $9.50 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, January 30th. Susquehanna cut their target price on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Finally, StockNews.com raised shares of Wolfspeed to a “sell” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.15.

Wolfspeed Company Profile

Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies in Europe, Hong Kong, China, rest of Asia-Pacific, the United States, and internationally. It offers silicon carbide and GaN materials, including silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers to manufacture products for RF, power, and other applications.